$JSEOUT - OUTsurance: To Stay In Or Get Out?
**Changed from RMI to OUT from 07/12/2022.
The group released its first trading update as OUT for the six months ended 31/12/2022 and it is a must read for anyone looking at OUT as an investment or trade.
The technical outlook though contains a warning that a long overdue correction is imminent.
The share has enjoyed a stellar run, gaining over 290% from the March 2020 low of 938 zac and has shown defensive qualities with very shallow consolidation and wave (2) and a very brief pullback in wave (4).
The Elliott Wave structure though shows that the stock is currently trading in the fifth and final wave of the five wave sequence labelled wave (1) to (5).
Once wave (5) is complete, which is impossible to say at this juncture, we can expect a more sizeable correction in three waves.
A further trading statement will be released on SENS as soon as OGL has reasonable certainty on the ranges of the expected EPS, headline earnings per share and NEPS for the current period.
OGL’s financial results for the six months ended 31 December 2022 are expected to be released on SENS on Wednesday, 22 March 2023.
Until then, I sit on my hands on this one.
The group released its first trading update as OUT for the six months ended 31/12/2022 and it is a must read for anyone looking at OUT as an investment or trade.
The technical outlook though contains a warning that a long overdue correction is imminent.
The share has enjoyed a stellar run, gaining over 290% from the March 2020 low of 938 zac and has shown defensive qualities with very shallow consolidation and wave (2) and a very brief pullback in wave (4).
The Elliott Wave structure though shows that the stock is currently trading in the fifth and final wave of the five wave sequence labelled wave (1) to (5).
Once wave (5) is complete, which is impossible to say at this juncture, we can expect a more sizeable correction in three waves.
A further trading statement will be released on SENS as soon as OGL has reasonable certainty on the ranges of the expected EPS, headline earnings per share and NEPS for the current period.
OGL’s financial results for the six months ended 31 December 2022 are expected to be released on SENS on Wednesday, 22 March 2023.
Until then, I sit on my hands on this one.
